Market Analysis – South Korea lifts martial law, altcoins experience a surge, grasp the rotation rhythm
Last night, South Korean President Yoon Suk-yeol unexpectedly announced an emergency martial law, causing significant market turmoil. The price of Bitcoin on the South Korean exchange Upbit briefly spiked to $62,000, and altcoins also briefly spiked. However, shortly after, the South Korean National Assembly opposed the martial law by a vote of 190 to 0, and even domestic legislators did not support it. Ultimately, the president announced the lifting of martial law around 4:30 AM, ending the coup. Subsequently, the market began to rebound, primarily led by the altcoin market, with lows rising more than 10%, while major market cap assets like BTC, ETH, and DOGE had little change, with BTC.D further declining to 55.17%.
It's also worth mentioning that BNB, which has been resting during the bull market, surged over 10% today. It raises expectations of whether there will be new IEOs, and this signal also indicates that we are currently in altcoin season. Justin Sun also sponsored Trump’s financial project with $30 million and bought an expensive banana artwork, eating it on the spot to generate a wave of traffic; TRX rose over 40% in one day, showing a deep understanding of market flow.
BTC price is currently at a relative low on the rising trend line; as long as it holds, the entry point is also favorable for profit and loss. However, it is obvious that we are in altcoin season, with mainstream coins taking a break, so grasping the rhythm of sector rotation is very important. Currently, there are several sectors worth paying attention to, and we have also selected coins worth noting within these sectors.
US Old Coins Concept Sector: LINK, STX
Zombie Coins: ADA, XRP, XLM, HBAR
AI Sector: TAO, FET, AR
ETH Sector: ETH, AAVE, PENDLE
MEME Sector: PNUT, BONK, PEPE
Zombie coin speculation wave
Recently, mainstream coins in the cryptocurrency market have lost their appeal. Data shows that Bitcoin's market share has been declining for three consecutive weeks, dropping from a high of 61.53% to around 55%, breaking support that has stood since May 2023.
In addition to the recent on-chain Hyperliquid, AI agents, and meme coins continuously attracting speculative funds, ‘zombie coins’ on exchanges have also become a major topic for retail speculation. These zombie coins refer to those with a market cap exceeding $1 billion but have almost no practical use or application. These tokens often lack an active user base, have low actual network usage, and fail to achieve their initial vision. Including: Cardano (ADA), Ripple (XRP), Stellar (XLM), Hedera (HBAR), Vechain (VET), etc.
Therefore, how to grasp the old coins that have not yet activated becomes an important factor for investors to profit in this market wave. From the current market, we observe that Arweave (AR) is a relatively less discussed but has certain speculative potential investment target.
Arweave fundamentals
From a fundamental perspective, Arweave itself and its parallel computing solution AO launched by its team are important infrastructures in the AI concept sector. In terms of the current popular AI agents, although most projects claim to be ‘Autonomous AI Agents’, in fact, most of these products are merely the result of connecting APIs.
In addition, some projects claim they can provide ‘on-chain verification’ to offer concrete evidence that the content was indeed generated by the model, rather than by other means (such as human creation). However, in reality, projects like Virtuals Protocol merely record the number of API requests and do not truly verify whether these requests involve the use of a specific AI model, nor can they prove the correlation between the generated results and the model.
However, AO itself is an infrastructure providing full-stack on-chain inference, capable of performing long-term computations on the blockchain and providing permanent storage through Arweave. This design ensures the transparency and immutability of the AI inference process, solving the problem of difficulty in verifying AI outputs in traditional methods.
On the other hand, many AI agent developers cannot run LLM (Large Language Model) locally, so they must rely on centralized APIs like OpenAI. However, this brings a series of single point failure issues; if the API fails, the entire AI agent may cease to operate or even disappear.
AO can provide verifiable on-chain LLM inference, immutable data pipelines, and infrastructure that supports long-duration computations. Therefore, if the AI agent track continues to develop, AO and AR will surely also have a place.
Arweave technical aspects
From a technical analysis perspective, AR's bottom has only doubled compared to other coins, and its recent trading volume has significantly increased. The spot trading pairs on Binance have exceeded $100 million for two consecutive days, which is quite rare in the past. Additionally, the daily EMA moving averages are about to form a golden cross, indicating it may be in a phase of imminent takeoff.
GTRadar Follow Trade Analysis – BULL
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Follow Trade Link GTRadar – Potential Public Chain OKX
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‘GTRadar – BULL’, ‘GTRadar – Balanced’ and ‘GTRadar – Potential Public Chain OKX’ have returns of +17.59%, +8.81% and +4.40% respectively over the past 7 days, and +246.76%, +66.57% and +14.44% respectively over the past 30 days.
Currently, ‘GTRadar – BULL’ holds a net long position of 50%, primarily in RUNE and ETH.
Currently, ‘GTRadar – Balanced’ holds a net long position of about 30% primarily in BNB and ETH.
Currently, ‘GTRadar – Potential Public Chain’ holds a net long position of about 50%, primarily in BNB and ETH.
Long-term followers who frequently change their portfolio perform worse than those who stick to one set. Don't easily end your follow trades due to short-term pullbacks; from the curve chart, pullbacks are actually good opportunities to start following trades, and going in and out reduces returns significantly.
Focus News
Chinese concept stock SOS's board approves a $50 million Bitcoin purchase plan
According to the official press release, Chinese concept stock SOS Ltd, engaged in data analysis, cryptocurrency mining, and commodity trading, announced last night that its board has approved a $50 million Bitcoin (BTC) investment plan. After the news was released, the company’s stock price surged, jumping at the opening, and even briefly reaching $15.5, before subsequently falling to $9.93, closing up 42.88%.
As DeFi demand returns, Uniswap's monthly trading volume on Ethereum L2 hits a new high
As users keen on decentralized finance (DeFi) flood back into the Ethereum ecosystem, the decentralized exchange Uniswap sets a new monthly trading volume record on Ethereum Layer 2.
AI agents and AI meme coin activities surge, with Base chain's TVL and trading activities both hitting new highs
According to data from DefiLlama, the Total Value Locked (TVL) on the Base chain has now reached $3.5 billion, surpassing the previously leading Arbitrum and becoming the highest TVL Ethereum Layer 2. Trading activity in the Base ecosystem continues to increase, with TokenTerminal data showing that the total number of transactions on the chain reached nearly 54 million last week, compared to only 29 million in the first week of September.
Justin Sun eats the banana artwork he bought for $6.2 million
Justin Sun, founder of the TRON blockchain, last week purchased an artwork called ‘Comedian’—a banana taped to a wall—for $6.2 million at Sotheby’s auction house. However, at a press conference held in Hong Kong on November 29, Justin Sun personally ate the banana he had bought for a high price.
HyperLiquid has a strong opening! Starting with a market cap of $1 billion, trading volume exceeded $100 million in the first hour
The decentralized trading platform HyperLiquid officially launched and airdropped its native token HYPE on the 29th. In the first hour of trading, it created a trading volume of $165 million; as of the writing of this article, the price has risen from the opening price of $2 to the current $11.
On-chain data: Whales accumulated $1.5 billion in Bitcoin during this week's decline
Bitcoin fell from about $98,000 to around $90,800 from last Monday to last Wednesday, a decline of about 7.5%, followed by a rebound. On-chain data shows that whales ‘took advantage’ of this period of decline to accumulate more Bitcoins, indicating their important role in the process of Bitcoin price recovery.
Bitcoin dominance sharply declines! CryptoQuant: Off-market funds are driving the 'altcoin season'
Bitcoin's dominance in the cryptocurrency market has dropped from 60% last month to 56%, marking a significant downward trend. Many market analysts point out that funds are gradually flowing from Bitcoin to other cryptocurrencies, but CryptoQuant CEO Ki Young Ju pointed out on social media that the increase in altcoin trading volume is primarily driven by stablecoins and fiat currencies, rather than from Bitcoin's funds rotation.
Ripple's stablecoin is rumored to be approved by New York regulators, XRP price hits a new high since early 2018
Fox Business reported last Friday, citing informed sources, that the New York Department of Financial Services (NYDFS) has indicated it will approve Ripple's issuance of the RLUSD stablecoin. If approved, Ripple will be allowed to legally issue RLUSD tokens to the public, possibly launching as early as December 4. This news drove XRP's price to surge significantly.
MicroStrategy increases Bitcoin holdings again
MicroStrategy has repurchased 15,400 BTC again at a price of approximately $95,976. As of December 2, 2024, the company has acquired 402,100 BTC at an approximate price of $23.4 billion, with an average cost of around $58,263.
US government wallet address transfers 19,800 Bitcoins
On the evening of December 2, around 12:30 AM, news came out that the US government transferred 19,800 Bitcoins, valued at $1.92 billion, with 10,000 Bitcoins (approximately $968 million) moved to Coinbase. Bitcoin subsequently plummeted again, dropping below $95,000. However, many analysts believe that the Bitcoins moved to Coinbase may be for custody rather than sale.
The shortest martial law in South Korea's history! Political farce causes market turbulence
South Korean President Yoon Suk-yeol suddenly conducted a live broadcast last night, announcing the implementation of ‘emergency martial law’ under the pretext of cleansing domestic anti-state forces, leading to severe turbulence in the Korean won and the overall market. The price of Bitcoin on the South Korean exchange Upbit even experienced severe negative premiums, with its USD value dropping to as low as $63,000, and due to an influx of trading demand, Upbit even briefly crashed.
The above content does not constitute any financial investment advice. All data comes from GT Radar's official announcements. Each user may have slight differences in entry and exit prices, and past performance does not represent future results!
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